Register now to reserve your spot for the training workshop on March 11, 2016 at TCAT at Nashville. The sessions for the day include the following topics:

Overview of Financial Aid

Resolving Conflicting Information

NSLDS Update

State Grant and Scholarship Programs

Lottery Scholarship Program

Tennessee Promise Program

Please click on the following link to register to attend http://tn.gov/collegepays/article/tsac-new-aid-officers-training-event. Directions and parking information will be provided once you’ve registered to attend. Refreshments will be served from8:30 a.m. to 9:00 a.m. and the workshop sessions will begin at 9:00 a.m. and conclude at 3:30 p.m. Lunch will be provided. The deadline for reserving your space is March 8th.

Reviewing your draft Cohort Default Rates can test your brain power—and figuring out whether a student belongs in a particular cohort year might be harder than you think. How well do you know the factors that determine cohort year? Take our three-question quiz to find out.

Quiz: Can You Place These Students in the Correct CDR Calculation?

1.Emma, History Degree

Emma graduated and received her degree in history from your school in December 2012. She defaulted on her loan in June 2015. According to the National Student Loan Data System (NSLDS), she transferred to another school to begin graduate school. Should Emma’s loan be included in your fiscal year (FY) 2013 CDR calculation? What information do you need to answer that question?

2.Miguel, Engineering Degree

Miguel graduated from your university’s School of Engineering on June 1, 2013. A stellar student and budget-conscious planner, Miguel landed a high-paying job right out of college and promptly paid his loan in full on July 16, 2013. Should his loan be included in your CDR calculation for FY 2013? Why or why not?

3.Gavin, No Degree

After a year in school, Gavin decided college wasn't for him, and withdrew from your school in May 2012. He defaulted on his loans in July 2013. He later realized college was the best path to a financially stable career, and consolidated his loans in December 2013 in order to regain Title IV eligibility. Should Gavin's loans be included in your school's FY 2013 CDR calculation?

Quiz Answers

1.Emma You need the actual date Emma entered repayment (DER). The key here is that, if the DER is delayed by re-enrolling in school prior to the end of grace, inclusion in a CDR calculation is also delayed. If Emma entered repayment in June 2013—six months after she graduated from your school—and enrolled in graduate school after her grace period, her loan would be included in your calculation for FY 2013. But if Emma started a graduate program at another school before her grace period ended, and entered repayment in October 2013 or later, she will be included in a later fiscal year CDR for your school.

2.Miguel

Yes, his loan should be included for FY 2013. His estimated date entered repayment (DER) based on graduation is replaced by a new repayment date based on the paid-in-full date. Since Miguel repaid his loan in full on July 16, 2013 (in FY 2013, which runs from October 1, 2012 to September 30, 2013) rather than entering repayment as anticipated in December 2, 2013 (FY 2014), his loan should be included in CDR calculations for FY 2013 rather than for FY 2014. This also holds true for loans discharged due to death, bankruptcy, and disability.

3. Gavin
Yes. The date his underlying loans entered repayment is the date used in the CDR calculation. In this case, Gavin entered repayment during FY 2013 for the underlying loans on which he defaulted—and these loans should be included in your FY 2013 CDR despite the consolidation in FY 2014.

Important CDR Reminder: Regulatory changes recently announced to the CDR challenge process for the Participation Rate Index do not take effect until 2017!

Dave Bowman is a Regional Director with Great Lakes, serving schools in Kentucky, Tennessee and Southern Ohio. You can reach Dave at (888) 685-1604, or by email at dbowman@glhec.org. Additional information about Great Lakes can be found online atschools.mygreatlakes.org.

TASFAA friends, we need nominations for YOUR Executive Board!! Please take a few moments to consider who would make a great candidate for each of the positions below. Be sure to ask your nominee if they are interested in running before submitting their name. Maybe YOU would make a great candidate!! Keep in mind that running for office is a big, yet very rewarding commitment.

Positions open for 2016-2017:

President-Elect: Will serve as TASFAA President for 2017-2018.

Secretary: Recorder of the Association and the custodian of its records.

Sector Representatives: Voting members of the Executive Board who represent their respective sectors.

·Community College Representative

·Private Institution Representative

·Public 4 Year Representative

·Tennessee Colleges of Applied Technology (TCAT) Representative

·Proprietary Institution Representative

·At-Large Representative (Represents all of those included in the TASFAA membership)

If you have any questions or would like more information about any of the open positions or the TASFAA election process, please contact any member of the Nominations and Elections Committee.

Celena Tulloss- University of Tennessee Knoxville

Sandra Rockett- Dyersburg State Community College

Cara Suhr- TCAT Nashville

Marian Dill- Lee University

Nominations will be accepted through December 4, 2015 and may be sent to ctulloss@utk.edu. All nominations will be kept confidential. TASFAA elections will begin in January. We look forward to receiving your nominations!

The Senate passed a short-term Continuing Resolution Wednesday that allows the federal government to remain open through December 11, 2015. During the interim, budget talks will continue regarding a two-year budget deal that is desired. Due to the current differences between the two parties and the Presidential election in 2016, it would not be surprising to end up with another short-term continuing resolution that goes through the November elections.

Federal Perkins Loan Program in Wind-Down

The Senate did not extend the Federal Perkins Loan Program yesterday, which ended the federal fiscal year. Although the House of Representatives passed a one-year extension on a voice, consent vote last week, the unanimous consent vote was blocked by Senator Alexander, who chairs the Senate HELP Committee. The USDE provided the guidelines for the wind-down of the Federal Perkins Loan Program in a Dear Colleague Letter (GEN-15-03) published January 30, 2015. Additionally, the Department of Education provided wind-down Questions and Answers regarding the Perkins Program on the Campus-Based Processing Information page on the IFAP website.

Our current President Dick Smelser has chosen to focus on Legacy for Leadership for the 2015-2016 year.

For those of you in a leadership position, who is the person in your office who would step into your role when you are no longer available? What legacy will you leave behind to ensure that your office and your college are left in capable hands? Ensuring that you provide your office with a well trained staff is vital in leaving a legacy for your school.

TASFAA/TSAC Fall Training Series is coming soon to provide training to help fulfil your Legacy for Leadership. It will be a well-rounded event providing sessions to develop you and your staff’s knowledge on a multitude of subjects.

Our Federal Session will be presented by the one and only Dave Bartnicki. Any of you who have seen Dave in action know that when he is done we will be well informed and thoroughly entertained!

Robert Biggers and James Snider from TSAC will present on our state programs such as TSAA, Hope, and Tennessee Promise. Robert and James will provide you with their wealth of knowledge to assist you with the ever-changing complexity of our state programs.

Another awesome addition this year is the NASFAA Satisfactory Academic Progress (SAP) Training Session. Not only will you learn all you need to know about SAP, if you complete this

training you are allowed to take the NASFAA Credential test for SAP at no cost to you! This is a savings of $99.00. If you want to know more about NASFAA Credentialing click here.

You must be a TASFAA member before registering. Please click here to visit the membership application page if you are not currently a member of TASFAA.

It’s one of the busiest times of year for most of us, but as we celebrate National Volunteer Week beginning on the 12th, I’d like to take some time to recognize all of the TASFAA folks who volunteer in our association and beyond.

First, TASFAA Governmental Relations Committee Chair Ron Gambill (Edsouth) and member Larry Rector (Johnson University) visited Washington, D.C. to lobby for various Federal Student Aid issues. Larry’s account of the trip was featured on the SASFAA Nine News blog. They met with two Senators and three Representatives over the two day trip. Thank you Ron and Larry for representing TASFAA and advocating for our Tennessee students!

Next, former TASFAA President and Director of Financial Aid at Lee University, Marian Dill was chosen to serve as a Primary Negotiator, representing private, non-profit institutions for the U.S. Department of Education’s Negotiated Rulemaking on Title IV loan issues. Marian is currently serving as the Vice President of SASFAA and was recently voted SASFAA President-Elect for the 2015-2016 year. Kudos to Marian on her achievements!

Most recently, President-Elect Dick Smelser attended the NASFAA Leadership & Legislative Conference & Expo. The conference helps prepare state association presidents and leaders from across the United States. Dick was also able to advocate for our students on Capitol Hill, even being invited to the “Tennessee Breakfast” with Senators Alexander and Corker. We look forward to your year as President Mr. Smelser!

Last but not least, I want to acknowledge the work of Leah Louallen and the 2015 TASFAA Conference Committee. We have an amazing agenda this year, full of great presenters (including David Bartnicki), as well as lots of fun. We have a new conference location at the Embassy Suites in Murfreesboro, a powerhouse opening speaker in June Cline, and surprises you won’t want to miss. Please make plans to join us April 26-29, for “TASFAA: A Growing Family Tree”. http://tasfaatn.com/Conference

As always, I am so thankful for the opportunity to serve as President of this amazing association, with such a spirit of friendship and volunteerism. I salute each of you this National Volunteer Week.

To encourage new members to pursue professional development opportunities and to enhance success within the financial aid profession, TASFAA is proud to offer the Clyde Walker Professional Development Scholarship. The scholarship was named in honor and in memory of Clyde Walker who passed away September 23, 2013. Mr. Walker was a Past President of TASFAA and had been a member of the association for many years. He chaired and served on many TASFAA committees and a mentor to many. He was Chair of the Association Governance Committee at the time of his passing. This scholarship will cover the cost of registration for one (1) participant to attend the SASFAA New Aid Officers Workshop. The 2015 SASFAA New Aid Officers Workshop, will be held June 14-19 at Thomas More College, Crestview Hills, KY.

Eligibility Requirements: To be eligible for the TASFAA Professional Development Scholarship, the applicant must:

Be a current TASFAA member who has not previously attended the SASFAA New Aid Officers Workshop.

Have five (5) years or less of financial aid experience.

Complete the application.

Submit a current resume and a letter of recommendation from the Financial Aid Director at the applicant’s institution.

Submit an original statement with the application. The statement should be at least one typed page in length on the following topic: Discuss the value and importance of student aid and how it relates to your choice of the Financial Aid profession.

Additional Information:

The scholarship will cover the cost of the SASFAA New Aid Officers Workshop registration. The applicant is responsible for any remaining costs associated with the workshop (travel, etc.).

Preference may be given to a past TASFAA New Aid Officers Workshop attendee.

Applications (and all required documents) must be submitted to Larry Rector, TASFAA Training Committee Chair, no later than April 10, 2015. The winner will be announced at the TASFAA annual conference, April 26-29 at the Embassy Suites in Murfreesboro, TN. All applicants are encouraged to attend the conference if possible.

02 Feb 2015 9:56 AM |
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There is now a limitation on the period for which a borrower may receive a Direct Subsidized Loan. Join us as we take an exploration of the 150% Loan Limit. We will show you how to correctly calculate the maximum eligibility period and subsidized usage period. We will also review what happens borrowers lose their interest subsidy benefits and helpful ways you can educate them of the changes.

Are you new to leadership and wonder what to expect in your new role? Since leadership is not just a one size fits all opportunity it's important to understand what you should or should not do during the transition period. This session aims to share common tips derived from other leaders within the financial aid community that transcends through multiple levels of the leadership hierarchy that will assist you in being an effective, well-rounded leader.

(NEW) Who’s Defaulting and Why: An In-depth Look at the Root of Loan Default

Category: Default Management

Borrowers default because they don’t pay—they don’t’ pay because their payments are unaffordable. However, unaffordability is one of the many reasons why borrowers struggle in repayment. There are others. We’ve identified who’s defaulting and why so that you can better understand which borrowers may have problems in repayment. We’ll also show you how to gather your own findings so that you can develop more targeted interventions. Getting to the root of loan default is the key that can move the needle on your rate and help the borrowers you serve.

Every minute approximately 19 people fall victim to identity theft. Do you know how to help your students avoid this epidemic? Identify theft is the fastest growing crime in America and young people between the ages of 18-24 are the most likely to be affected. But there are ways that your students can proactively protect themselves. This webinar will show you how you can inform and counsel your students so they can protect themselves from identity thieves and potential scams.

Financial education helps student’s make wise decisions about money and credit. You can create and tailor your own financial literacy programs by mastering basic concepts. This train-the-trainer session will give you all of the essentials you need to provide financial education to your students. You’ll be able to take what you’ve learned and create your own presentation to educate your students so that they make wise financial choices both during school and after graduation.

Specific topics covered include:

How credit scores are generated

How different types of loans – including student loans—impact credit history

Professional Judgment is helps you target funds to students with exceptional need. But Professional Judgment principles must be applied wisely and responsibly in order to be effective and compliant.

This participatory session reviews complex case studies to show how you can help students get the aid they need by making adjustments to either the expected family contribution (EFC) or the student’s cost of attendance.

Have you ever dissected your cohort default rate? Attend this session to learn what factors and circumstances affect your default rate. Do you know what factors and circumstances affect your rate? Things to consider include defaulted loans from students who attended multiple schools, the timing of deferments, and the impact of loan consolidation and rehabilitation. This session will review all of these situations so you can better understand your rate and help your borrowers.

Specific topics covered include:

How the Department calculates cohort default rates

Timing of loan default

The impact of consolidation, deferments, and forbearance on CDRs

Special circumstances that could be included in the cohort default rate calculation

Draft Cohort Default Rates are due to be released in February. Do you know how to review your report for accuracy? Learn how you can review CDR reports and when to challenge, appeal and adjust to ensure your school’s rate is an accurate reflection of your borrower’s experience in repayment.

Get a refresher on tax filing rules in advance of the 2015-16 verification cycle to better identify and resolve issues during the file review process. This webinar will take you through tax rules to ensure the data elements used to calculate the expected family contribution are correct.

17 Dec 2014 2:57 PM |
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January 2015 Webinar Sessions and Descriptions

Reaping Results with a 12-Month Default Prevention Action Plan

Default prevention results can be achieved when a plan is developed and executed properly. Do you know how to create an actionable 12month plan that reaps results? If you’re like many schools, developing a plan requires time and resources that may be limited. During this session we will show you how to put together a 12-month action plan that is manageable. We’ll walk through the plan month by month, demonstrating strategies that you can deploy to help you manage default rates and reap results.

Every minute approximately 19 people fall victim to identity theft. Do you know how to help your students avoid this epidemic? Identify theft is the fastest growing crime in America and young people between the ages of 18-24 are the most likely to be affected. But there are ways that your students can proactively protect themselves. This webinar will show you how you can inform and counsel your students so they can protect themselves from identity thieves and potential scams.

Professional Judgment is helps you target funds to students with exceptional need. But Professional Judgment principles must be applied wisely and responsibly in order to be effective and compliant.

This participatory session reviews complex case studies to show how you can help students get the aid they need by making adjustments to either the expected family contribution (EFC) or the student’s cost of attendance.

Managing default prevention activity is important to your institution but requires resources and time. We can show you how to improve your default rate with just a little extra effort each month. By dedicating just 60 minutes each month, you can lower your school’s cohort default rate, and facilitate your ultimate goalundefinedhelping students avoid the negative consequences of loan delinquency and default.

Student employees are a vital resource for your office but a challenge to supervise. Do you have the tools needed to effectively manage your student workers to achieve optimal success? Because they are part time, with varying schedules, and diverse attitudes towards employment and academics, student employees provide you with unique supervisory challenges. Attend this mini session to learn tools to help you better supervise your student employees and help them achieve success for your office and their future careers.

Get a refresher on tax filing rules in advance of the 2015-16 verification cycle to better identify and resolve issues during the file review process. This webinar will take you through tax rules to ensure the data elements used to calculate the expected family contribution are correct.

(NEW) Helping Students Reach Their College Education Dreams and Avoid Student Loan Nightmares

Do you find it challenging to meet the full needs of your students through financial aid? Often you might experience them turning to student loans without first exploring other options. By educating them, they will be better equipped to make smarter choices, become financially responsible, and have less student loan debt upon graduation.

Staying in touch with borrowers is an important part of a default prevention strategy. If borrowers don’t stay connected after they leave school, how can you find them? Many students leave school and stay connected through the alumni and other associations, friends, and even faculty and administration. Others leave and make it difficult to be found. Many of them have loan debt but have neglected their payment obligation. Locating them can be a challenge. This session will discuss tools and strategies that you can use to find borrowers. We will also share what Great Lakes does to locate borrowers and the rules and regulations all must follow.

New final rules issued in October 2014 made changes to the PLUS loan to include modifying the definition of “adverse credit history” and requiring loan counseling for PLUS borrowers who have extenuating circumstances or who have an endorser. We’ll give you an overview of the regulatory changes and how these changes could impact your PLUS borrowers. We’ll also take a take a look at the derogatory actions that contribute to an adverse credit history and how they are reflected on the credit report.

12 Dec 2014 7:56 PM |
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TASFAA Family,

The year is coming to a close and most of us will enjoy extra time off with our friends and family. As we celebrate the holidays, please remember the members of our TASFAA family who are in need of our support this holiday season.

First remember those facing medical issues. Those include Furmonte’, son of Gwen Fleming, former TASFAA secretary from TCAT Ripley. Furmonte’ suffers from asthma and went into the hospital with a collapsed lung in September. He has undergone several surgeries and remains hospitalized with multiple complications. Next, our friend Mike Jones from TSU remains in a long-term care facility after a major scare with his heart. Also, Craig Harris’s infant daughter Emery has undergone heart surgery and may face more over the coming months. Craig was a long-time TASFAA member working for several different sponsor partners. In addition, Vic Lemons, husband of Jamie Lemons, One-Stop counselor at UTK, is battling lupus and pancreatic cancer. Last, Robbie Snapp from MTSU has both undergone knee replacement surgery and faced medical issues with her mother. All of these folks ( as well as anyone I may have missed) could use a little TASFAA love this holiday season!

We have also recently seen the passing of some dear members of our TASFAA family. In the past few weeks, we have lost Wayne Fletcher, founder of Wayne’s Barber and Beauty School and husband to TASFAA member Melissa Fletcher, Bill Grizzard, the “Pickle Man”, longtime sponsor partner and TASFAA friend, and Tom Zminkowski, former First Tennessee, TSAC and USAF employee.

As I reflect on 2014 and the first half of my TASFAA Presidency, I couldn’t be more proud of our state and our members. For those of you who were able to join us for dinner at FSA, it truly felt like a family meal. As member of TASFAA, we aren’t just colleagues; we become true, lifelong friends. Thank you for this opportunity to serve, I am both humbled and grateful to be a part of this wonderful organization. Enjoy the season and all my best wishes to all of you for an incredible 2015!